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USDOLLAR Risk is Tightened on Bullish Bias

USDOLLAR Risk is Tightened on Bullish Bias

2013-12-16 20:58:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_us_dollar_index_body_Picture_1.png, USDOLLAR Risk is Tightened on Bullish Bias

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDOLLAR broke lower from consolidation on Tuesday but completely retraced the move on Wednesday. Such action is typical of false breaks.”

-Another higher low is now in place at 10566. Look higher towards 10757 and 10812 as long as price is above 10566.

Trading Strategy: Long, risk is moved up to 10565 from 10535.

LEVELS: 10535 10566 10620 | 10693 10757 10812

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

To contact Jamie e-mail jsaettele@dailyfx.com.  Follow me on Twitter for real time updates @JamieSaettele

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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